Further Amending City Tax Ordinance No. XCIX and Deferring its Implementation to January 01, 2005

December 3, 2003 Excerpt from the Minutes of the Regular Session Held by the Sangguniang Panlungsod of the City of Cebu in its Session Hall on December 03, 2003. PRESENT: Hon. Michael L. Rama Presiding Officer Hon. Gabriel V. Leyson Pres. Protempore Hon. Jocelyn G. Pesquera Majority Floor Leader Hon. Procopio E. Fernandez Asst. Maj. Flr. Leader Hon. Eugenio F. Gabuya, Jr. Minority Floor Leader Hon. Carmelita L. Piramide Asst. Min. Flr. Leader Hon. Rodrigo A. Abellanosa Member Hon. Christopher I. Alix Member Hon. Nestor D. Archival, Sr. Member Hon. Glena C. Bontuyan Member Hon. Gerardo A. Carillo Member Hon. Eugenio Faelnar Member Hon. Sylvan B. Jakosalem Member Hon. Vicente A. Kintanar, Jr. Member Hon. Manuel P. Legaspi Member Hon. Arsenio C. Pacaa Member Hon. George R. Rama Member ABSENT: Hon. Dana Ruiz Sesante Member (On Leave) Hon. Danilo M. Fernan Member (On Leave) RESOLUTION NO. 2391-03 The Sangguniang Panlungsod of the City of Cebu, on motion of Member Pesquera, seconded by Member Rama, RESOLVED, to approve the following ordinance: STaCcA CITY TAX ORDINANCE NO. CI AN ORDINANCE FURTHER AMENDING CITY TAX ORDINANCE NO. XCIX AND DEFERRING ITS IMPLEMENTATION TO JANUARY 01, 2005 WHEREAS, on October 2, 2002, the Sangguniang Panlungsod of the City of Cebu enacted City Tax Ordinance No. XCIX entitled: "AN ORDINANCE AMENDING CITY TAX ORDINANCE NO. LXX, OTHERWISE KNOWN AS THE REAL PROPERTY TAX CODE OF THE CITY OF CEBU AND FOR OTHER PURPOSES, AS AMENDED"; WHEREAS, City Tax Ordinance No. XCIX effectively imposed a new schedule of market values that would serve as the basis for the classification, appraisal, and assessments of all residential, commercial, and industrial lands within the territorial jurisdiction of the City of Cebu in connection with the 2002 General Revision of Real Property Assessment; WHEREAS, City Tax Ordinance No. XCIX took effect on January 1, 2003; WHEREAS, after the effectivity of the aforesaid ordinance, the City of Cebu and its officials have received from the affected taxpayers numerous complaints regarding the new schedule of market values and fervent pleas for the deferment or suspension of the implementation thereof; acITSD WHEREAS, the implementation of the aforementioned ordinance poses an additional burden to the affected taxpayers who are still reeling from the dismal economic situation of our country; WHEREAS, to continue the implementation of the aforementioned ordinance in the prevailing bleak economic situation of our country would be contrary to the general welfare not only of the affected taxpayers but likewise the people of the City of Cebu who will surely suffer from the ramifications thereof; WHEREAS, under Section 16 of the Local Government Code, the City of Cebu is mandated to exercise its powers essential to the promotion of the general welfare; WHEREAS, consistent with the General Welfare Clause of the Local Government Code, the City Council had approved City Tax Ordinance No. C deferring the implementation of City Tax Ordinance No. XCIX, as amended to January 1, 2004; WHEREAS, with the recent crisis our country is now experiencing and with due evaluation of the different economic factors, there is a need to defer further the implementation of City Tax Ordinance No. XCIX, as amended, to January 1, 2005; NOW, THEREFORE, the Sangguniang Panlungsod of the City of Cebu, in a regular session duly assembled, does hereby ordain that: SECTION 1. Amendment of Section 13 of City Tax Ordinance No. XCIX. Section 13 of City Tax Ordinance No. XCIX is hereby amended to read, as follows: "Section 13. Effectivity Clause. This ordinance shall take effect on January 1, 2005." SECTION 2. Grant of Tax Credit. All taxpayers affected by the new schedule of market values and who have already paid their corresponding real property taxes on the basis of the aforementioned new schedule shall be granted a tax credit in an amount over and above the real property taxes that would have been due and payable under the old schedule. This tax credit shall be applied to the real property taxes due on the succeeding years. SECTION 3. Vested Rights. All rights and benefits that may have been vested on account of the effectivity of City Tax Ordinance No. XCIX from January 1, 2003 until the enactment of this ordinance shall be protected and respected by the City of Cebu. SECTION 4. Separability . Should any portion of this Ordinance be declared contrary to pertinent laws and statutes by any court of competent jurisdiction, such declaration shall not affect the validity or effectivity of the other provisions not affected thereby. SECTION 5. Repealing Clause . All ordinances or portions thereof contrary or inconsistent with the foregoing provisions of this Ordinance are hereby repealed, modified, or amended accordingly. SECTION 6. Effectivity. This Ordinance shall take effect immediately upon its approval. CARRIED UNANIMOUSLY. (Member Bontuyan was out) I hereby certify to the correctness of the aforequoted resolution/ordinance. (SGD.) ESTRELLA F. DE LOS REYES City Secretary ATTESTED: (SGD.) MICHAEL L. RAMA Presiding Officer APPROVED: December 15, 2003 (SGD.) TOMAS R. OSMEA Mayor